If we look in the previous bull run, there are few main points:
- After the breakout of the falling price and weekly RSI resistance, it took BTC approximately 160 days to make a second peak at 0.618 fibo level
- Such a movement would take us to about 50k at around April 2023
- There are actually many similarities - mainly the big channel that the btc stays in the whole time, breaking out only around halving
- Also, in the previous run, breakout of the falling price and RSI weekly resistance accured at the same time, same as now
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.